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  • Tax

    1982 commercial valuations

    Company I own has a property in it that was bought in 1978 in the Welsh Valleys. Cost then was £78k. For CGT purposes I need a 1982 valuation. Is there an accepted index to work out what the valuation would be? If not how is this done? The building is one of the largest in the town so comparable difficult.

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    Hi

    Comparables for 82 data are hard to come by so I understand your challenge.  10 years ago we created a database of 18,000 properties of all types and value across the UK from auction results 1981-1983  you can see a sample data set at https://www.eigpropertyauctions.co.uk/search/eighties-property-data.  It is a subscription based service so do contact me if it is of interest.

    Hope this helps

    Kind regards

    David 

    David Sandeman

    Essential Information Group

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    You could ask HMRC to do it for you. They will appoint the district valuer. The form is CG34 I think.

    Be careful as this will limit your negotiating room.

    The alternative is to do a tax return and disclose the basis in the white boxes and leave HMRC to decide whether to challenge using the districted valuer.

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022